October 2021
Magazine
WHEN COMPLIANCE CAPABILITY BECOMES A COMPETITIVE ADVANTAGE By Eric Frost of Simple KYC
BROKER IN BUSINESS Meet Rebecca Jarrett-Dalton
Meet some of the team working hard behind the scenes to support Australian brokers. Managing Your Business Through COVID-19 • Industry Update - Continued Conversations
06 08 12 20
FROM THE CHAIR FBAA Chairman Tony Carter
INDUSTRY UPDATE Continued Conversations
Broker In Business Meet Rebecca Jarrett-Dalton
Cybersecurity for small to mid-sized financial businesses By Dinesh De Silva of NetStripes
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When compliance capability becomes a competitive advantage By Eric Frost of Simple KYC
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FBAA Member Benefits Exclusive Offers What’s on everyone’s Christmas list this year?
Managing your business through covid-19 By Integrated Human Resources
Board of directors Meet the FBAA Board of Directors
EDITOR & HEAD OF CONTENT Peter White AM MANAGING EDITOR Krystal Camilleri
24 COVER STORY Meet some of the team working hard behind the scenes to support Australian Brokers
34 Business in
a new world
Have you registered for the FBAA National Industry Conference on Friday 11th March 2022?
SUB-EDITORS Janet White Phillipa Byrne STAFF WRITER Rachel Licciardello CREATIVE DESIGN & PHOTOGRAPHY Jessica Camilleri Matthew Gianoulis Krystal Camilleri ADVERTISING Krystal Camilleri TELL US WHAT YOU THINK We appreciate hearing from readers. If you have feedback, news or a story idea you would like us to cover, please contact us using the below details. NEWS, ADVERTISING AND ADMINISTRATION e: editor@fbaa.com.au p: 07 3847 8119 w: www.fbaa.com.au All information and images are subject to copyright. No part of this publication may be reproduced without prior permission in writing to the Finance Brokers Association of Australia Limited. The views and opinions of the authors and advertisers do not necessarily reflect the opinions of the publisher. While every effort has been made to ensure the accuracy of information at the time of publishing, the publisher accepts no responsibility or liability for errors, omissions or subsequent consequences including loss or damage from reliance on information in this publication.
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Want to know more? Scan to watch the video Susan Bell Research: Why customer buy life insurance from the mortgage broker channel (ALI Susan Bell Research Dec 2020) Exploring the meaning of ‘reasonable scope – the ALI Group, Susan Bell Research (August 2021) Australian Life Insurance Distribution Pty Ltd ABN 31 103 157 811 AFSL 226403. Any advice provided is general and does not take into account your objectives, financial situation or needs. You should consider whether the advice is suitable for you and your personal circumstances. Before making a decision to buy a financial product, you should consider the information contained in the relevant product disclosure statement. © ALI Group 2021
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FROM T At the outset let me say thank you with emphasis on the importance of Member support, Director support and FBAA staff support, in the most disruptive year on record. Our Members have been through tough times, initially working through how to change your business model to fit with COVID-19 impacts and then seeing business activity ramp up to unprecedented levels. Throughout this, FBAA Members have remained loyal supporters of the work we do as your leading industry representatives. The FBAA Directors have been on a similar journey in their own broker-based businesses and then had to also work hard in changed conditions to ensure the direction of FBAA remained focused on its purpose, vision and KPIs. Special thanks to the leaders of our Standing Committees: Treasurer, Steve Rasmussen as Chair of Finance, Audit, Investment & Remuneration with additional duty chairing Pandemic Risk Committee; Company Secretary, Kim Szigeti as Chair of Governance & Risk; and Deputy Chair of Board, Chris Szigeti as Chair of Dispute Resolution Service. These three, together with members of their respective committees, have covered off a significant level of work over the past year. Thank you to each of them as well as all other FBAA Directors. I can confidently report they have represented members above and beyond what is expected in “normal” times.
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THE CHAIR The FBAA staff, led by Managing Director Peter White, have been simply amazing. Their willingness to accept change, adapt quickly and increase productivity made the outcomes a record. On behalf of all FBAA Members and the FBAA Board I offer our thanks and recognition to a team who believe in the Purpose of FBAA. You have made us proud. The work of the FBAA Board is focused on the purpose statement: To assist members; develop as business professionals, be skilled and successful finance brokers, by providing; advocacy, education, and support services. This leads to the prime business strategies. These drive the business success. • Net Member Growth • Member Satisfaction • Positive financial outcomes
NET MEMBER GROWTH
FBAA recorded a solid 10.78% net member increase with membership now beyond 9,300. When looking at this number is it important to keep in mind our membership is, in the majority, active brokers working in the finance industry.
MEMBER SATISFACTION
Survey measured annually, we saw increases in survey participation and satisfaction levels. At same time we took absolute note of any suggestions or criticisms. Member satisfaction moved from 89% to just short of 95%.
FINANCIAL OUTCOME
In a year where I genuinely feared a negative outcome, FBAA produced a net increase through both growth in income and cost containment, even after the FBAA Board decided to freeze membership fees for a third year. In this same period, we invested in a newlook member friendly website and membership interface, as well as new innovative programs – Member Benefits Program and FBAA Education Institute. Please check them out on the FBAA website.
FAREWELL
We take this opportunity to thank and farewell from the board Life Member and Director, Chris Szigeti. Chris is a founding member and has remained highly focused on the needs of FBAA and its members for more than 25 years. There will be a lot more to say in recognition – stay tuned and be in attendance when we finally are able to run the National Industry Conference, face-to-face in March 2022. Thank you Chris for your input, advice, and support. Tony Carter Chairman FBAA Board of Directors
Industry Update Continued conversations With FBAA viewed as the reputable professional voice for brokers and the broking industry’s peak advocacy group, Managing Director Peter White AM continues actively engaging with decision-makers, regulators and industry. In his regular Industry Update, Peter ensures brokers are across the latest news, even when conversations are still taking shape.
Continued conversations Design and Distribution Obligations
Digital Signatures and Digital Mortgages
New Design and Distribution Obligations (DDO) came into force early October, requiring issuers of financial products to design products to meet the needs of consumers and be clearly targeted in their distribution. To my knowledge, everybody is endeavouring to meet compliance obligations as best they can. Unfortunately, with DDO and Target Market Determination (TMD) it does not always play out with common sense.
There is strong political support from Senior Ministers to make digital signatures, digital mortgages and documentation a normal part of the broking landscape, after COVID shone a spotlight on these items. Legislation for digital mortgages has already been drafted in WA, and FBAA is part of that conversation. We don’t have definite timeframes at this stage, but the FBAA remains engaged in ensuring this legislation is well thought out and not rushed through.
With mortgage brokers operating under a fiduciary obligation, being the Best Interests Duty (BID), there is a minor exclusion to comply to the product’s target market determination (TMD). However, because a mortgage broker would still need to report any breaches and keep their own records, they must understand the TMD for every product they put before a client, which adds another layer of ‘informed’ responsibility. Finance brokers on the other hand must comply to a TMD always, together with record keeping and reporting breaches. The FBAA’s position is, why does this need to be complicated? Why make it harder for lenders, aggregators and brokers? Why not make the rules consistent for everybody to potentially avoid letting brokers unintentionally slip through the floorboards? I continue working with regulators and aggregators on the issues we see with DDO.
Extension Of BID & Responsible Lending Obligations Repeal The proposed extension of the best interests duty (BID) and Responsible Lending Obligations repeal has now gone through its third reading before the House of Representatives. Feedback from the Treasurer and other Ministers suggests we will see no progression on this within 2021, and in fact these matters may not go forward at all, unless they look vastly different to the current proposal. I will remain across any progressions on this and update Members accordingly.
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Broker Focus Group Our Broker Focus Group is held the first Friday of each month. We have now held four meetings with our focus group members, since we launched in July. The focus group involves 67 brokers who each expressed interest in being involved, a fantastic response indeed. Of course, 67 voices around one table would be unruly, so we have contained each meeting to groups of 10 to 20 people, to give each broker the opportunity to contribute to discussions. The question at the core of these focus group sessions is: What keeps you awake at night? We explore brokers’ pain points, workshop possible resolutions and throw around ideas. It’s a valuable group for us to get quick, firsthand responses from brokers working at the coalface.
House Of Representatives Standing Committee On Economics Tribunal I was asked to present at the House of Representatives’ Standing Committee on Economics tribunal in August. It was an honour to be asked to present, and this reinforces the FBAA’s position as the premier voice for the broking industry. The tribunal’s questions to me centred on two key areas: 1) the regulation of brokers in commercial lending, and 2) education standards within the industry.
“After doing this job for the past 13 years, I see these early questions as the beginning of something more to come. Stay tuned…”
Peter White AM Managing Director
I was able to answer the tribunal’s questions and share insight into what our regulatory environment looks like, whether we get many complaints, how complaints are dealt with and so on. After doing this job for the past 13 years, I see these early questions on commercial broking as the beginning of something more to come. Stay tuned…
National Industry Conference Unfortunately, we have had to reschedule the highly anticipated FBAA National Industry Conference due to COVID and the inability to move between many States. We are confident we will be able to deliver a face-to-face conference on Friday 11 March 2022. We expect that by March, our Premiers will allow people to move more freely between States. Our National Industry Conference is the broking industry’s largest event to learn, network, be inspired, and is capped with an evening of celebration. It’s been far too long between drinks, and I very much hope to see you at the Gold Coast on March 11.
BROKER IN BUSINESS Meet Rebecca Jarrett-Dalton Next year will mark 10 years in business for residential mortgage broker Rebecca Jarrett-Dalton. Her business, Two Red Shoes is a unique brand, designed to stand out from the pack. We talk to Rebecca about building her business, the importance of giving back, and opportunities for brokers in 2022.
When Rebecca Jarrett-Dalton decided to start her own business, she began with a clean slate: a fresh name, a digital workflow and a focus on residential home loans. Two Red Shoes is a brand brimming with personality and a firm designed to help home buyers find their individual roadmap to home ownership.
with the kids, little did I know you also work all day. But I love it, and as a single mum now 21 years on I am immensely grateful to this industry that allows me to have a business and own a home.
Today, almost 10 years later, Rebecca has a team of three plus outsourced support from within Australia. (Keeping staffing onshore is important to Rebecca.) Two Red Shoes services clients all over the country, with clients in Sydney where Two Red Shoes is based, stretching up to Far North Queensland, back along the entire eastern seaboard and over to WA. For Rebecca, success is marked by daily interactions with her clients, giving back to her community and paving her own road in business.
I have a strong tech background so when I was creating Two Red Shoes in 2012, I designed as digital a workflow as possible with the view to be highly efficient and paperless. Long before best interests duty (BID), I was operating the BID principles and educating clients.
How did you come to be a broker?
Mortgage broking sparked my attention because it was a good way for a mother to work around having children. My theory was you work at night when dad can be home
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What early decisions helped your business?
What tools or strategies did you use to build your profile and your business?
Social media has been the number one method of growing Two Red Shoes, with networking as second. The social media has just been nonstop fun! I do a little PR as well which helps build national authority and access crazy opportunities like being called onto Sunrise.
“Why work so hard to stand out when you can just do so from the start?”
Why did you choose the name ‘Two Red Shoes’?
I threw around so many “ABC finance” type of names but I wanted something that was distinctly different – why work so hard to stand out when you can just do so from the start? The name is a play on The Wizard of Oz of course and people get it, they tag me in red shoe pics and send me gifts like sparkly red chocolate heels! Every bit of the brand personality is about being professional, but sassy, fun and authentic at the same time. We can do many quirky things with social media and a fun quirky brand. It’s important to differentiate yourself in a crowded marketplace in any business. If you have your angle, your niche and, most importantly, it’s you – you embody it – then it has its own natural momentum.
To you, what is ’success’?
The better I do by someone, the better I do personally. I love chasing numbers and settlement targets, but success to me is being able to help people and show my kids they can be strong and independent and create something they love.
Tell us about a career high?
My absolute career high was working with a couple who are completely legally blind and trying to buy their first home. I had spoken with the wife and she took a year to convince her uber risk-averse husband (I totally feel him!) to come back. The challenge was empowering them to review everything and allow them to be comfortable with the choices they were making without having to just trust what I was saying. I consulted the legal team to ensure I was compliant, I thought out my very visual presentation and converted it to something audio, and chose a lender who allowed electronic document signing before it was popular – essentially making myself redundant. In the process I learnt so much about what their lives were like, even inspecting a property and describing it to them and then chasing a random lizard their dog brought in! We had a brilliant assessor on board who really wanted to approve them. Their repayments are less than the rent they were paying, and in a very short time they had enough equity to look at investing.
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You support women’s shelter The Haven – why is it important to give back to community?
This is very personal to me. I’ve had struggles with mental health, depression, anxiety and low self-esteem and in working with a psychologist we built a chart of all the things I value in a person – intelligence, bravery, honesty, etc – then crossed off the things we thought I had in me and made a hit list for me to work on. Community service was something I identified as missing. A good friend – the then federal member for our local community – invited me to sit on the steering committee for a proposed shelter. I went to the meeting convinced I had nothing to offer. I didn’t know anything about boards or domestic violence or the sector, but at the meeting I was floored by the need and the numbers and if it wasn’t going to be me and the amazing team at that table to make things happen, then who would it be? That was 2017, and we’ve now provided over 11,000 ‘bed nights’ which is sector speak for every night a bed is occupied in The Haven by a woman or child safe from domestic violence. We are entirely community funded, that means fundraising and donations run us, and an entirely volunteer board so all the funds raised are used for the work of the shelter. My ongoing role, apart from contributing to the running of the shelter, is in governance and technical support for the amazing staff. The importance of my contribution is for me personally and not my business. I’ll take any opportunity I can to promote The Haven but I don’t use it as a platform to promote Two Red Shoes.
What opportunities do you see for buyers and for brokers in 2021 and 2022?
What a time in the market! We’ve taken the opportunity to go back to all our clients who bought using a family pledge loan and releasing the guarantee because the equity allows it. For buyers, the opportunity is there to buy a home where the repayments could be less than the rent they are currently paying. For all of us brokers, the opportunity is there to grow our market share and work as hard as we can while the work is there.
Rebecca’s Advice to Brokers Building a Business 1. 2.
Build your first line of defence
3.
Network
4.
Take risks
5.
Be super authentic
Your referrers will ultimately grow your business. I reward every referral, regardless of outcome.
Not with the intention of doing business for those you network with, but to keep top of mind and have like-minded friends, because (especially if you’re female) you’ll be challenged by friends who don’t understand what you’re doing.
Pay it forward on networking
Give referrals where there is a good personality fit, without expectation of return.
Confession – I am bad at this one!
Make every decision align with your ethics and personality and you’ll automatically attract your tribe.
BUSINESS COACHES COST THOUSANDS OF DOLLARS – HERE’S THE ACCESSIBLE ALTERNATIVE Nick Barnsdall, business expert, author, and educator, launches the first and only business cinema – a video-based platform, like Netflix but with business boosting content, that streams to your device 24/7. On the 16th of July 2021, Nick Barnsdall, Co-founder of Navig8Biz, opened the doors to the online cinema platform, BizFlix. Their mission? To create a unique, interactive online experience that provides business owners with answers to their problems, at a fraction of the cost of exorbitant business coaches. The pandemic saw a rise in business ownership as individuals began to question what they were capable of. Now, an army of business owners is left in the trenches wondering what to do next, with no idea how to build a profitable business, or even get customers through the door.
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As millions of people hustle their way through the daily grind of business ownership, it becomes increasingly obvious just how difficult it is to stand out in a sea of competitors. A tsunami of brokers has been left to its own devices, with no manual and no idea how to build a sustainable business model, market their services effectively, close a deal, manage cash flow, or even write a business plan. Barnsdall seems to have unlocked the code when it comes to discovering opportunities and developing winning business models, whilst leading a team of hundreds of staff members with purpose and passion.
Co-Founder and former CEO of Hyundai Construction Equipment Australia, Chairman of business investment fund Agio Global and founding investor and Chairman of one of the top providers of Clean Energy in Australia, Clean Energy Transfer Fund, Barnsdall sees no boundaries when it comes to business.
“Taking the stress out of business and making it simple, the platform streams episodes on everything from Cash Flow to Negotiating, Digital Marketing, Collaborating, Building a Database, Your Brand Book, and a whole lot more,” says Brooks. “Watch on the go or listen whilst driving. It couldn’t be easier to fix your business.”
“Often so many people have no idea what opportunities are out there. The purpose behind BizFlix is to help lost entrepreneurs find their way and discover those immense opportunities. It’s the answers to all their questions and problems all in the palm of their hand – the ultimate mentoring tool, information on tap,” says Barnsdall.
The BizFlix vision is to bring hope, inspiration, motivation, and real-life wisdom back to business owners, through an accessible, easy-to-use, and innovative platform, providing business coaching anytime, from anywhere, for less than the price of lunch.
“Finding ways to build your business in an oversaturated world of competitors is tough. It was early 2021 when we knew something had to be done. My business partner, Joanne Brooks, and I decided to shake up the business education scene. It had long been stale and boring.”
Get your free trial today. >> https://bizflix. navig8biz.com/bizflix-landing-page/ For more information, contact Joanne Brooks, CEO of Navig8Biz, at joanne@navig8biz.com
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Cybersecurity For Small To Mid-Sized Financial Businesses Financial services are at the heart of our economy, and cybercrime is a significant threat to the industry. Yet, the reality is most business owners have a lot to manage and cybersecurity is not often prioritised. Here are some simple but significant steps you can take to protect your business and lower the risk of cyber-attacks due to your own negligence.
We operate in a digital world, and like any medium, there are significant risks in cyberspace that we shouldn't ignore. These simple but significant steps can help protect your business.
KEEP YOUR SOFTWARE UPDATED
Software updates are the key to securing your network, devices, and all other areas. Updates are created to combat vulnerabilities and are continuously improved to block hackers. You might have multiple devices linked, so ensure all of your devices are updated to protect your data. A business website is often the most overlooked in terms of updates. One website alone can contain multiple pieces of software, for example, software integrations for WordPress, emails, contact forms, CRMs, and various other applications. All the software has to be updated, and if we neglect this, we run the risk of exploitation. Especially in the finance field, these exploitations can be very expensive since businesses deal with personal data such as bank details, account numbers, income figures, etc. All this data is sensitive and can lead to issues if breached.
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COMMON TYPES OF CYBERATTACKS
S t ay v i g i l a n t o f ex te r n a l t h re a t s by understanding what cyber-attacks look like. Protect your data by ensuring your software includes anti-virus, anti-spyware and anti-spam. Phishing: A spam email or message that steals information such as credit card details, usernames, and passwords through links. The emails or messages look like they have come from credible entities such as your bank or employees. Malware: This term applies to malicious software such as viruses, Trojans, spyware, and adware. They enter your device through downloads and corrupted software. Ransomware: This is when hackers gain control of your files and demand payment for return. It is recommended you never pay as there is no guarantee you get your data back. An example of the seriousness of ransomware attacks on financial services is the recent theft of $260 million in Cryptocurrency from Poly Network, a finance platform. While in this case, the hacker returned the digital assets, this rarely ever happens.
SYSTEMATISED PROCESS FOR RISK MANAGEMENT
Implement risk management basics like regular backups of your data. If you have device or website issues and you lose valuable data, that’s a huge loss. Storing backups of websites, documents and databases will protect you from losing information caused by system failures, and viruses. Other areas to regulate: • Encrypting important information • Multi-factor authentication on devices • Regular staff training and advice • Regular audits Additionally, opt for passphrases (passwords that are phrases) over traditional passwords to protect your devices and networks that hold confidential information. They are simple to remember but harder to crack. The financial sector remains an attractive target for cybercrimes due to sensitive information collected from its customers. No business is 100% secure against cyber-attacks, but by staying vigilant, you have the power to reduce the impact of these attacks.
For further advice on cybersecurity and tech support, get in touch with netStripes. Our team of experts will advise you on your business's cyber security and areas for improvement. Visit: https://bit.ly/3nu4XDR
Dinesh De Silva - CEO and Founder - netStripes
Dinesh is the CEO & Founder of netStripes, a digital and marketing solutions business in Sydney. He is a leading authority on small and medium business digital innovation and is regularly called upon to share his insights as a thought leader.
WHEN COMPLIANCE CAPABILITY BECOMES A COMPETITIVE ADVANTAGE Faced with an ever increasing digital landscape, commercial lenders and financiers are being called upon to balance their AML/KYC compliance obligations with demands for ever simpler and absolutely frictionless customer application and onboarding experiences. Commercial lenders and financiers that do not embrace digitisation to its fullest extent run the risk that applicants or their brokers will seek out other lenders that are simply much easier to deal with. It is in this context that it is becoming increasingly evident that digital regulatory compliance solutions have become a source of competitive advantage in their own right. AUSTRAC’s freshly minted report card on the Australian banking system makes for very bleak reading. Its ongoing focus, and that of its global counterparts, on anti-money laundering, counter terrorism funding, cross border tax evasion and the detection of modern slavery will inevitably lead to even greater complexity being built within the compliance capabilities currently utilised across the Australian banking system and beyond. Commercial customer onboarding processes designed to ensure AML/KYC compliance have historically been complicated and cumbersome for customers, their brokers and their chosen
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lender. Finding the right balance between compliance, efficient and cost effective digital processes and applicant and broker experience is the new challenge facing all participants in the commercial lending and financing segments. Subject to AUSTRAC’s regulations; commercial lenders and financiers have an obligation “to collect and verify” key customer information such as the existence of the commercial entity, the identity of the directors and office holders and to resolve who the beneficial owners of the commercial entity are before extending products or services to that customer. Getting the commercial customer onboarding process wrong can not only expose a lender or financier to breaches of the AML/KYC legislation but may expose them to the real risk of significant financial and even criminal penalties. Increasingly so however, the commercial customer onboarding process can lead to customer and broker dissatisfaction resulting in customer drop outs during the process and referrals from brokers and aggregators lost to competitors whose onboarding processes are simpler and easier to fulfil and complete. Commercial lenders and financiers who adopt effective digital onboarding solutions that are
simple, seamless and intuitive and which can assure AML / KYC compliance whilst requiring minimal information from customers and minimal intervention from brokers and lenders will acquire a significant competitive advantage by becoming the lenders of choice for brokers who are committed to ensuring the best possible customer experience for their clients.
Eric Frost, CEO and Co-founder - Simple KYC
Eric Frost is the the CEO and one of the co-founders of Simple KYC a Sydney based fintech which was launched in Sydney in 2015 and has since grown to 50 staff in three international locations servicing customers across the world. Simple KYC's solutions automate due diligence for the complete spectrum of commercial entity types ranging from small family owned business to large corporate and institutional type businesses and ensures that all relevant regulatory requirements are fully met. Simple KYC's clients include a diverse mix of financial services, banking, lending, legal, accounting, FinTech and B2B and include a large number of well-known global organisations.
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Meet some of the team working hard behind the scenes to support Australian brokerS We talked to some of the team at FBAA about how work priorities shifted inside FBAA during COVID and look at the key projects they have delivered this year.
There may be no ‘i’ in ‘team’ but there is an ‘us’ in ‘focus’. For the team working behind the scenes at FBAA, focus, along with agility, have helped the association emerge from a tumultuous almost-two-years for Australian businesses with a number of successes under their collective belt. Membership growth, numerous back-end projects designed and implemented, and a continued commitment to improving the FBAA member experience. In early 2020, as COVID sent its first shockwaves through the economy and locked down many states and businesses, the FBAA looked to its annual member satisfaction survey to reshape the team’s priorities. The team spent this ‘grounded’ time researching and determining which projects and programs could benefit members through 2021 regardless of ability to travel. Once the research phase was completed in 2020, the team, led by Managing Director Peter White AM, compiled a refreshed strategy for 2021, which included a top 10 list of projects and a business case for each.
“We looked at what members wanted more of, what they wanted less of and what they thought we could do better at,” explains Peter. The Board approved the team’s strategy paper in December 2020, and the team shifted into implementation mode. They spent the first half of 2021 building the back-end of projects, while the second half of this year has been the launch stage, along with constant monitoring and tweaking. Key projects have included a new website, new member portal called PICS, the FBAA Member Assistance Program which is sponsored by Suncorp and facilitated by Assure, the FBAA Member Benefits Program and the FBAA Education Institute. As Executive Assistant to the Managing Director and FBAA Senior Board Members, Phillipa Byrne is across most activities within the FBAA. Phillipa was key in overseeing the delivery of FBAA’s new website, the Member Benefits Program and the Education Institute, as well assisting with planning for the PICS member portal.
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“With events and travel being restricted, COVID allowed the FBAA to focus on the development and implementation of projects outlined in the strategic plan,” shares Phillipa. Having previously owned and run a registered training organisation (RTO), the Education Institute project was a good fit for Phillipa who has worked with AAMC to deliver the platform which will launch later this month. “Education is important to brokers at every stage of their careers,” says Phillipa. “Our 2020 member satisfaction survey revealed a broker appetite for more education resources and
short courses to help build their knowledge
and their businesses, so this is exactly what we are delivering. In fact, all projects were a direct result from member feedback received through the annual FBAA Member Satisfaction Survey. “Courses in the Education Institute include those that are required for brokers to stay compliant, business related subjects as well as free webinars, so some content is free and some is paid,” Phillipa explains. “This platform allows us to put all the content required by FBAA members in one place for ease of access.”
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“The FBAA is in a position to c into a o
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a very strong financial continue investing back areas that will benefit our members.” – Nick Lane FBAA Finance Manager, Nick Lane, joined FBAA in January 2021 and was able to support the FBAA’s key projects such as the new website and PICS member portal by offering his financial mind during the business case phase and initial planning stages.
“I came in at a time where a lot good work had already been done at the Board level and the senior management level to get things in place – technology to support work-from-home and event delivery, operational plans for events, and a solid strategic direction,” shares Nick. “The FBAA is in a very strong financial position to continue investing back into areas that will benefit our members. That is what these projects are about – driving the association and its members forward in the future.” Adding further value for members, the FBAA has decided to not increase membership fees for a third consecutive year. “The Board was cognisant of making sure we provide value to members and not add in a fee increase when we can afford not to,” says Nick. “At the same time, we are able to continue delivering on initiatives that keep adding value.”
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For FBAA’s Head of Memberships, Christine Anderson, the stand-out achievement of 2021 has been growing the FBAA member network to a new record. At June 30, 2021, the FBAA represented 9,034 members.
number of brokers retiring from or exiting the industry has reduced on previous years, but the biggest trend in memberships in 2020 and 2021 has been new-to-industry brokers.
“At the start of COVID we were coming off the backend of the Royal Commission, so we did see some brokers exiting the industry,” recalls Christine. “But, we welcomed back many of these brokers not long after they left. They re-opened their memberships and returned to the industry, because they saw the demand for brokers was so great.” Christine says she has noticed the
“For us, supporting all members is at the core of all that we do. For new-to-industry brokers, we aim to give as many tools and guidance as we can to get them past the two years of mentoring, and beyond that critical first four years to establishing yourself as a broker, so they stay in the industry long-term.” In 2021, Christine was heavily involved in designing and developing the FBAA’s new member portal, PICS, which launched in August 2021 and was named for the FBAA’s core values: Professionalism, Innovation, Commitment, Service. “I worked closely with the IT company that delivered this new MMS (member management system), to make sure it’s what we need and what our members have asked for,” says Christine. “Members often require copies of certificates or other documents, or copies of past invoices at tax time, and PICS now allows them to easily and quickly access these when they need them. Members can view all emails sent to them from FBAA within PICS, so they don’t need to search their whole inbox or wait for us to re-send an email. Members can also log in to make changes to personal information and the changes will be made live at our end, there’s no delay. We have really tried to make interacting with the FBAA as efficient as possible.” Story continued page 32 30
Broker Magazine
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For FBAA’s Events and Marketing Manager, Mariah Pires, 2020 and 2021 have been all about planning, postponing and re-planning. “With Peter White being a major advocate in the mental health space, he wanted to make sure the FBAA was still connecting with members through 2020 and 2021,” says Mariah, “and not just for education, but also offering support webinars such as mental health webinars.” Mariah taught herself the technology to deliver online events with speakers located remotely, developed training documents to ensure all speakers and registered viewers could use the technology, and the FBAA shifted to purely online events for a period of time. “Back in 2019, our events calendar demanded a lot of travel,” explains Mariah. “Online events were possible but not really expected – faceto-face was certainly the preferred method of delivery.” The FBAA would aim to lap the country three time each year, delivering a new theme for events with each lap, and each lap would cover all major cities and some regional cities. This equated to almost weekly travel. In March 2020 when COVID landed in Australia, FBAA was about to hold its first major industry event of the year, an International Women’s Day event in Sydney. “The day before our International Women’s Day event, I was in Brisbane running a business summit,” recalls Mariah. “Just as I was about to leave the event to go straight to the airport, I received a call advising me the rooftop venue we had booked in Sydney would be shutting down due to a COVID case within the building below. Being a rooftop venue, I had already
booked caterers, equipment, tables, chairs, alcohol, and so on, to be delivered to site.” Mariah sprang into action as her Uber headed to the airport – phoning venues to relocate the event, advising the caterer and presenters of the venue change, preparing communications to registered attendees, and sourcing new equipment for the event. “Some of the equipment had already been delivered to the original rooftop venue, which we couldn’t access because the building was physically closed,” explains Mariah. “Venues didn’t have a ‘global pandemic’ clause, so the entire industry was navigating new territory. “For FBAA events, 2020 and 2021 have been a case of taking it as it comes and having multiple back up plans in place, plans A, B, C, D and E… Even now, as we’ve begun our third lap of the country for 2021, some of our events have been hybrid events, a mix of face-to-face and digital, to ensure these events can be delivered to all states despite border closures and lockdowns,” offers Mariah. Nick says FBAA members have embraced online events as a means to consume content and remain connected to industry. “Through COVID it’s been easy to feel lost in the woods, and certainly our organisation can and has provided that connection, that focus, for the finance and mortgage broker industry,” he says. “That could well be a reason why FBAA memberships grew so strongly.” With so many priorities on the go, Phillipa says it satisfying to see projects completed and launched. “It is even better when we have positive feedback from members about the improvements and changes we are making to benefit them. We are working on some projects still to come in 2022, and launching these will be very exciting.”
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“For FBAA events, 2020 and 2021 have been a case of taking it as it comes and having multiple back up plans in place – plans A, B, C, D and E..…”
– Mariah Pires
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The FBAA’s National Industry Conference is back! After 2020 delivered a year like no other, and 2021 followed suit, the broking industry’s largest professional conference will return in 2022 and focus on giving you the right tools to support your business in a new world.
Last year, the COVID-19 pandemic disrupted business operations around the world. For brokers in 2020, this required quick reactions to support customers and help them navigate an indefinite period of uncertainty. Then, what looked grim for the industry quickly turned from cold to hot as record low interest rates and low supply pushed property prices through the roof. For brokers working in 2022, what does this mean? What tools will you need to support your loan customers, enhance your operations and future proof your business? With greater
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technology at our finger tips and changes to the way we assist borrowers, 2020 and 2021 have opened the door to a new world. ‘Business in a new world’ is the theme for the next FBAA National Industry Conference which will be held at Sea World, on the Gold Coast, on Friday 11th March, 2022. FBAA Managing Director Peter White AM said it is wonderful to be back to face-to-face events, networking with brokers and industry professionals throughout the country.
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“There is a real buzz about being able to travel and network and come together to celebrate what brokers have achieved…” “Our National Industry Conference is a major industry event, and I’m thrilled we will be back at the Gold Coast, soaking in some Queensland sunshine and mingling with our industry’s brightest.” “Feedback from members is that there is a real buzz about being able to travel and network and come together to celebrate what brokers have achieved. It’s been two full years already since we held our last National Industry Conference, Gala Dinner and Awards of Supremacy – and an exceptional two years
at that – so this year’s event will be particularly special,” says Peter. “There is an appetite not only for the social side of events like these, but for information sharing, education and professional insights and growth that our conference has become known for. “Registrations, sponsorships and exhibitor bookings are all tracking well this far out from the conference.” Register now at fbaaconferences.com.au
SPEAKER LINEUP
Michael Pascoe Michael Pascoe is one of Australia’s most respected and experienced finance and economics commentators with four decades in newspaper, broadcast and online journalism covering the full gamut of economic, business and finance issues. Michael is most recognised through his many years spent reporting on business and finance on Channels 9 and 7, in addition to his past role as Contributing Editor for the Sydney Morning Herald and Age. He’s now contributing editor for The New Daily and regularly seen as a commentator on ABC’s The Drum and 7’s Sunrise and other programs. He is a popular conference speaker and MC, bringing rare humour and plain language to the ‘dismal science’ of economics. Michael was born and educated in Queensland, starting his career with The Courier-Mail before working in Hong Kong for three years on the South China Morning Post. He joined the Australian Financial Review in Sydney upon returning to Australia and then pioneered specialist finance journalism in commercial broadcasting - first with the Macquarie Radio network, then with Channel 9, Sky News and 7.
SHADÉ zahrai An award-winning leadership strategist, Harvard-trained coach and member of the esteemed Forbes Coaches Council, Shadé Zahrai is a specialist in building a success mindset, self-belief and self-mastery for business professionals, and enhancing people-centric cultures. Shadé Zahrai is recognised for her superhuman ability to translate neuroscience and psychology research into practical, actionable strategies to accelerate success. As Principal and Director of Influenceo Global Inc., a leadership development, consulting and research firm, she consults, trains and coaches leaders and teams from startups to Fortune-500s. Her work aims to breathe life into organisational culture to enhance change-readiness for transformation, increase engagement, support the development of people-centric strategies and boost commercial performance. A former commercial lawyer with a background in psychology and strategy consulting, bolstered by 10+ years across a top tier legal firm and Big-4 bank, Shadé is in touch with the human side of business. She also specialises in programs for high performing women to maximise confidence and supercharge success.
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Bernard Salt
Simon Kuestenmacher
Bernard Salt AM is widely regarded as one of Australia’s leading social commentators by business, the media and the broader community.
Simon Kuestenmacher is the Director of Research at The Demographics Group based in Melbourne, Australia, and a rising star in data animation and interpretation with astounding predictions for Australia’s future. In just two years he has amassed 125,000 followers globally who enjoy his insights and his quirky observational style.
Bernard heads The Demographics Group which provides advice on demographic, consumer and social trends for business. Prior to that, Bernard founded KPMG Demographics. He writes two weekly columns for The Australian newspaper and is an adjunct professor at Curtin University Business School. In conjunction with KPMG Australia he hosts a top-rated podcast called ‘What Happens Next’ which discusses rising trends and important business issues. Bernard is one of the most in-demand speakers on the Australian corporate speaking circuit. He is well known to the wider community for his penchant for identifying and tagging new tribes and social behaviours such as the ‘Seachange Shift’, the ‘Man Drought’, ‘PUMCINS’ (pronounced pumpkins) and the ‘Goats Cheese Curtain’. He is perhaps best known for popularising the phrase “smashed avocado” globally. Bernard was awarded the Member of the Order of Australia (AM) in the 2017 Australia Day honours.
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Simon speaks on demographic trends, consumer insights and cultural change in Australia. Simon holds degrees in geography from leading universities in Berlin and Melbourne and worked for several years as a business consultant with KPMG Australia. A columnist for The Australian newspaper, he is also one of the two co-founders of The Demographics Group and an emerging media commentator on demographic and data matters. He is frequently sought out by SkyNews, The Project, newspapers and radio stations across Australia to comment on demographic megatrends and the future of Australia. Simon was named one of the world’s Top 50 influencers in data science by carto.com, he reaches over 30 million people every month through his Twitter account.
Yasmin London Yasmin London is the Executive Director of ySafe, Australia’s largest online safety education organisation. Yasmin ignites social change through education and courageous conversations. Yasmin’s mission is to equip people with the skills and knowledge to ensure technology enhances their modern day lives, rather than detracts from it. As the Executive Director of ySafe, Yasmin has collaboratively overseen the team’s delivery of online safety education to 500,000 kids since its inception, 100,000 parents and 50,000 school staff educating on multiple aspects of digital wellbeing and online safety. Yasmin regularly speaks at events and conferences, and consults for governments, schools, business and not-for-profits. Aside from being widely recognised as Australia’s ‘Dancing Cop’, she’s also written for Kidspot, and appears on Channel 9’s Today and Weekend Today Show providing advice for Australians on online safety and positive technology management. Having spent 13 years in the NSW Police Force, Yasmin has worked at the coalface when it comes to dealing with real-life consequences of negative online behaviours.
Chelsea Pottenger Chelsea is an international motivational speaker, an accredited mindfulness and meditation coach, a psychology student, a proud ambassador for mental health charities including R U OK? and The Gidget Foundation and an authority on mindfulness and productivity. For 12 years Chelsea worked in the corporate world and then a life adversity happened. After her life reboot, Chelsea commenced her studies in psychology. Her clients range from the big four banks, to tech companies like uBer and ebay, Estee Lauder and The Australian Defence Force to name a few. Chelsea has featured on Sunrise, ABC and Channel 9, and in FBAA’s Broker Magazine. Chelsea is no stranger to FBAA’s National Industry Conference, having previously presented a fascinating, educational and motivating talk some years ago.
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MANAGING YOUR BUSINESS THROUGH COVID-19 How are employers managing their rights and obligations around COVID vaccines?
There is no simple answer to this question. We support businesses in just about every different industry sector with offices/sites throughout Australia and internationally, unfortunately there’s not a ‘one size fits all’ response. The issue of mandatory vaccinations is hotly debated. SPC, fruit and vegetable processor, has recently become the first Australian company to mandate vaccines for all 450 onsite staff and visitors. SPC will be the first test case within Australia and we will be closely watching this unfold. G e n e ra l l y s p e a k i n g , t h e fo l l ow i n g i s information that we have sourced to share with Femeconomy members:
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Can employees be forced to vaccinate?
An employee in certain circumstances will be required to get vaccinated to comply with obligations under a work health and safety law, COVID-19 Information for workplaces Safe Work Australia but no, employees have the right to choose to be vaccinated or not, as they may have a legitimate reason to not be vaccinated.
What if an employee refuses to get vaccinated? • •
•
Ask the employee to explain their reasons for refusing the vaccination If it’s a legitimate reason, an alternate solution may be reached and this could include alternative work arrangements. (Fair Work Ombudsman) Employees should discuss options with their employers depending on the circumstances of their individual workplace. (Consultation and cooperation in the workplace – Best practice guides – Fair Work Ombudsman)
While some of the businesses are following the whole “No Jab, No Job” policy, this is a coercive approach that is debatable. Instead, employers can support their employees by: • Providing leave or paid time off for employees to get vaccinated • Helping to ensure employees have access to reliable and up-to-date information about the effectiveness of vaccinations. (Learn about COVID-19 vaccines Australian Government Department of Health on the Department of Health’s website) • Where employees do not wish to be vaccinated, or don’t yet have access to vaccinations, explore other options including alternative work arrangements. When undertaking this case-by-case assessment, it may also be helpful as a general guide to divide work into four broad tiers. (COVID-19 vaccinations: workplace rights & obligations – Fair Work Ombudsman): • Tier 1 work, where employees are required as part of their duties to interact with people with an increased risk of being infected with coronavirus (for example, employees working in hotel quarantine or border control). • Tier 2 work, where employees are required to have close contact with people who are particularly vulnerable to the health impacts of coronavirus (for example, employees working in health care or aged care). • Tier 3 work, where there is interaction or likely interaction between employees and other people such as customers, other employees, or the public in the normal course of employment (for example, stores providing essential goods and services). • Tier 4 work, where employees have minimal face-to-face interaction as part of their normal employment duties (for example, where they are working from home).
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A workplace may have a mix of employees, with different employees performing work in different tiers, all of which could change over time. The COVID-19 pandemic doesn’t automatically make it reasonable for employers to direct employees to be vaccinated against the virus. This is certainly an area of employment law which should be considered with respect and specific advice is sought to each businesses specific need.
Why should workplaces encourage annual leave when travel is limited? With restrictions on travel both internationally and domestically, holiday plans are being put on hold. It comes as no surprise, that where businesses continue to operate, annual leave requests have been cancelled left, right and centre. Whilst it is understandable that employees are not booking holidays away, as an employer it is important to ensure that employees are still taking a reasonable break from work. A reasonable break does not mean a long weekend; it really should be at least a week off work. Employers will find that employees feel they are wasting leave if they take it and do not go away, however the employer also has a duty of care to their employees to ensure that leave is being utilised for rest and relaxation (which we would say is a work health and safety obligation). Story continued page 46
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If employees are encouraged to take leave, the business and employee will benefit greatly: • Reduction in fatigue • Reduction in sick leave and unplanned absences • Reduction in Workcover claims • Improvement in morale • Reduced minor grievances within teams • A well rested and motivated workforce results in increased productivity • Increased retention rates
How do businesses onboard new employees when everyone is working remotely? We all know that first impressions count, however, with so many businesses now hosting remote workforces, i.e., working from home, onboarding can be a little tricky. Really though, it just requires a little more outside-the-box thinking and being a little more organised than before. The importance of organising an induction schedule is to set the new employee up for success, to acclimatise to the social and professional expectations of their new work environment so that they can proceed comfortably and effectively in their roles. We’ve found the easiest way for the initial onboarding is to utilise a cloud-based HR information system (HRIS). There are a lot of different options available, and we use about five different HRIS across our clients (we certainly have our favourites though). These HRIS alleviate the need to print employment agreements, position descriptions and all the other new starter paperwork such as tax file declarations, fair work information statements etc. These documents are all issued and completed online and often integrate straight into payroll, thus forming a positive first impression. What’s even better is that the HRIS is the platform for all people management matters such as performance management, tracking work health and safety incidents, training and development, time in attendance and even requesting and approving annual and sick leave online. It’s game-changing for many businesses. Back to onboarding, just like you would meet and greet a new employee on their first day in person, we believe it’s important to still provide the same opportunity even when working from home – but just through video conferencing something like a virtual tour.
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•
• •
•
A video conference team meeting where each staff member can introduce themself, their position, how long they’ve been with the business, etc. can help to form relationships and break the ice. Spending time to talk through the employee manual, relevant policies and procedures, setting up expectations, etc. Obviously, technology is key to remote working, so thoroughly take the new starter through the technology available within the business and ensure that internet and relevant access is suitable. Discuss communication tools and message boards and project management software, etc. Set up regular check-ins. Because you can’t just walk across the office to check-in, it’s vital that the manager regularly checks-in with the new starter and actually diarises these times so as not to forget. It can be a little daunting for new starters to ask for help at the best of times, doing so when working remotely can exaggerate any
•
hesitation to ask a question and you don’t want them sitting at home for long periods of time overthinking what or how to do things. Set up a buddy. A buddy is a colleague, rather than a manager, who can share workplace rituals, to talk to and confide in, to ask the ‘silly questions’, which can lead to creating positive workplace relationships, quickly breaks down any barriers and continues to create open communication as well.
How do you support businesses to be mindful workplaces? Practising mindfulness in the workplace has increasingly been found to help reduce workplace stress. It can also result in positive benefits for employees, both inside the office and in their everyday life including: • Clear and focused thinking • Increased productivity and attention • Heightened performance • I n c re a s e d p o s i t i ve e m o t i o n s a n d satisfaction Below are some top tips to integrate mindfulness in an employee’s workday: 1. Start their day with a break • Encourage your team to try short mediation techniques before they start work to increase productivity throughout the day. • Techniques may include; finding a comfortable and quiet area while you have a morning coffee or tea, focusing attention to your breath and erasing all distractions from your mind for a few minutes. 2. Forget multi-tasking • E n s u r e e m p l oye e s h a ve a c l e a r understanding of their priorities by asking
•
them to identify their two most important tasks or projects at the start of the week. Encourage the team to tackle priorities first and give their full attention to each task, one at a time! Allowing your team to give their full attention to a single task will achieve greater clarity, consciousness, and productivity and may also reduce feelings of work-related stress, anxiety and chaos.
3. Slow down to speed up • Encourage your employees to work at a steady pace on a single task to maintain their focus and minimise mistakes. • Slowing down the pace will also enable your team to make well-thought-out decisions and be calm and present in the office, resulting in more meaningful interactions with their colleagues. 4. Set a mindful moment reminder • Encourage the team to take short mindfulness breaks between tasks. • Your employees could use these intervals to stretch their legs, get some fresh air, or to listen to a short mindfulness meditation using the Smiling Mind app, so they’re ready to tackle their next task with clarity. 5. Create a mindful culture • Introduce meeting guidelines that all mobile phones should be switched off or set to silent whenever possible and remember to keep each other accountable. • Nominate one person to take notes during a meeting and give each person an opportunity to speak and feel valued. • Being present in the moment means everyone is getting the most from the interaction which is invaluable for workplace culture.
Livestream Event Friday 19th November 10:00 AM - 12:00 PM AEST ‘Better Relations between Men and Women’ is the overarching theme for this year’s International Men’s Day for 2021. Join us for our FBAA live streamed event, as we unpack what this really means and how important it is to work together to be a role model for those around us. Throw on your favourite tropical shirt or outfit, as we come together to celebrate the men of the world.
CPD HOURS
FIND OUT MORE
BUSINESS
IN A NEW
WORLD Friday 11th MARCH 2022 FBAA’s Platinum Events of the Year on the Gold Coast. FBAA welcomes back the National Industry Conference and Gala Dinner.
FRIDAY 11th March 2022 | Movie World, Gold Coast 7 PM - Late | Cocktails | Dinner | Live Entertainment Heroes and Villains themed
STATE PRESIDENTS Trent Carter
Christine Green
Western Australia - State President
Queensland - State President
Director Provident Lending & Business Solutions Mobile: 0448 773 310 Email: wa@fbaa.com.au
Liberty Network Services Mobile: 0434 338 704 Email: qld@fbaa.com.au
Joff O’shannessy
Nick WorMALD
South Australia & Northern Territory - State President
New South Wales & ACT - State President
Director Finance Opportunities Mobile: 0419 820 149 Email: sa@fbaa.com.au
Brett Spencer Victoria & Tasmania - State President Opica Group Mobile: 0412 497 110 Email: vic@fbaa.com.au
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Grow Capital Mobile: 0488 810 555 Email: nsw@fbaa.com.au
Would you like more information on an FBAA event or PD Day thats happening in your local area? Maybe you have some feedback or an issue you would like to discuss? Finance Brokers Association of Australia Street: Level 1, 116 Ipswich Road, Wooloongabba Qld 4102 Post: PO Box 177, Coorparoo Qld 4151 Phone: (07) 3847 8119 Email: info@fbaa.com.au Web: www.fbaa.com.au
Tony Carter
Peter White AM
Chair | Director
Managing Director | FBAA Life Member
Cert IV Finance, Graduate Management Qualification (GMQ) – UWA
MAICD
Tony Carter has been involved with the motor and finance industry for more than 40 years. The last 20 years he has been Dealer Principal and Director of three motor dealerships. He has been engaged with finance since his early career days at AGC and was a licensed finance broker in WA from 2004 to 2013, ending as an ACL holder when he resigned from the motor dealership position. Today, Tony holds a credit representative role under his son’s company and runs his own vehicle and finance brokerage in WA. Over the past 20 years Tony has been on three not-for-profit boards; BIZLINK (Chairman), Asthma Foundation WA (Chairman), and Asthma Australia (Director). Special Responsibilities Chair of the FBAA Board of Directors, Member of Finance, Audit Investment and Remuneration Committee, Member of Governance and Risk Committee, Chair of Nomination and Membership Committee, Member of Education Development Committee, Leader of State President Liaison Advisory Group, Member of Concierge Advisory Forum.
Principal Broker Brokerage WA Phone: 0418 911 220 Email: tcarter@fbaa.com.au
Peter White AM has vast experience in banking and finance, spanning more than four decades. He is highly engaged with government and industry regulators, ensuring and protecting the future of our industry and dealing with regulatory matters of the day. Peter’s activities with FBAA include representation on the Advisory Board of the Small Business Association of Australia, as Chairman of the Global Board of Governors for the International Mortgage Brokers Federation (IMBF), and the industry’s passionate advocate for mental health awareness. Peter was awarded as a Member of the Order of Australia (AM) in the June 2019 Queen’s Birthday Honours List, for his significant service to the finance sector and to the community. Special Responsibilities Government, media and strategy, Leader of Concierge Advisory Forum, Leader of Combined Industry Forum, Leader of International Mortgage Brokers Federation, Leader of Education Platform Steering Committee, Member of Finance, Audit, Investment and Remuneration Committee, Member of Governance and Risk Committee, Member of Nomination and Membership Committee, Member of Education Development Committee, Member of State Presidents Liaison Advisory Group, Member of Equity Release Advisory Forum. Phone: 07 3847 8119 Email: pwhite@fbaa.com.au
KIM SZIGETI
STEPHEN RASMUSSEN
Company Secretary | Director
Treasurer | Director | FBAA Life Member
JJP (Qual), DipFS, AFB, MAICD, GIA (Affiliated)
B.Com (Prof Acct), Cert IV (FMB),CPFB, MAICD, FBAA Life Member
Kim Szigeti has vast experience in finance and mortgage broking, spanning more than 25 years. Kim joined FBAA in 2005, was Secretary to the Queensland Council from 2007 to 2009 and was elected to the Board in 2017. She was appointed to the position of Company Secretary in 2017. Kim is a member of the Australian Institute of Company Directors and the Governance Institute. Over the years Kim has been involved in numerous volunteer positions within the community as Chairperson, Coordinator and Secretary to secure donations and organise events. Special Responsibilities Chair of Governance and Risk Committee, Chair of Education Development Committee, Member of Nominations and Membership Committee, Member of Education Platform Committee.
Mortgages Can Do Phone: (07) 5592 2635 Email: kszigeti@fbaa.com.au
Stephen Rasmussen has been involved in the finance and banking industry for more than 40 years. He started in a branch environment, acquiring broad lending experience across retail and SME sectors, before starting his own broking business in 1995. Stephen joined FBAA as a member in 2000, was appointed Queensland and Northern Territory State President in 2009 and was elected to the Board as a Director in 2016. Special Responsibilities Finance, Audit, Investment and Renumeration Committee, Leader of Equity Release Industry Advisory Committee, Member of Governance and Risk Committee, Member of Combined Industry Forum.
Principal Tailored Lending Concepts Mobile: 0412 295 875 Phone: (07) 4637 0836 Email: srasmussen@fbaa.com.au
ANGELO LAURO
Clive Kirkpatrick
Director
Director
AFB, Certificate IV (FMB)
BEc, MBA, GAICD, Grad Dip FP, Grad Dip App Finance & Investment
Angelo Lauro has had several careers in executive and development roles across various sectors in the past 20 years with more than 10 years in finance specialising in asset finance. Angelo has built successful businesses including one of the largest asset brokerages in Australia. Angelo is currently the director of a boutique aggregation business supporting brokers across Australia and currently works with the Commercial Equipment, Asset Finance and Motor Dealers Committee (CAM) supporting asset brokers and motor dealers. Special Responsibilities Member of Governance and Risk Committee, Member of Nomination and Membership Committee, Member of Education Development Committee, Member of Education Platform Committee.
Director Australian Finance Aggregation Phone: (07) 3193 9447 Email: alauro@fbaa.com.au
Clive Kirkpatrick is a successful executive with more than 30 years’ experience in banking and financial services both in Australia and offshore. He is experienced in strategy formulation and execution, business management, sales management and people leadership. Clive’s generalist background and sound understanding of marketing, product development, legal and compliance is supported by an MBA (Master of Business Administration). Clive has developed governance and directorship skills through GAICD and memberships and has a specialist knowledge and demonstrable capability in distribution. Special Responsibilities Member of Finance, Audit, Investment, Remuneration Committee, Member of Governance and Risk Committee, Member of Dispute Resolution Service, Member of Concierge Advisory Group.
Director Kircon PTY LTD Mobile: 0439 564 885 Email: ckirkpatrick@fbaa.com.au
Felicity Heffernan Director DipFMB, DipBA
Felicity Heffernan has been a business owner for 22 years, and run her own mortgage brokerage since 2007. Based in Newcastle, NSW, she is also the author of two books and speaks publicly on assisting people who want financial freedom. Felicity has served on the FBAA NSW State Council and as past NSW State President. She holds a strong advocacy position for the improvement of financial competencies to be lifted in Australia. Special Responsibilities Member of Dispute Resolution Service, Member of Nomination and Membership Committee, Member of State Presidents Liaison Advisory Group.
Property Loan Advisor CEO Mobile: 0417 024 300 Email: fhefferman@fbaa.com.au
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